Notes to the Company’s Financial Statements (forming part of the Financial Statements)
34 Accounting Policies
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the Financial Statements.
Basis of Preparation The financial year was the 52 weeks ended 27 June 2015 (prior financial year 52 weeks ended 28 June 2014). The Financial Statements for the Company have been prepared in accordance with applicable accounting standards, and under the historical cost accounting rules and in accordance with applicable United Kingdom Generally Accepted Accounting Principles (UK GAAP) and law.
Under section 408 of the Companies Act 2006 the Company is exempt from the requirement to present its own Profit and Loss Account. The profit or loss for the year is set out in the Reconciliation of Movements in Shareholders’ Funds.
Under FRS1 the Company is exempt from the requirement to prepare a cash flow statement on the grounds that it is included within the consolidated accounts.
The accounting policies of the Company are the same as for the Group except for the following:
Investments Investments are stated at cost less provision for any permanent diminution in value.
Taxation The credit for taxation is based on the loss for the year and takes into account taxation deferred because of temporary differences between the treatment of certain items for taxation and accounting purposes.
Deferred tax is recognised, without discounting, in respect of all temporary differences between the treatment of certain items for taxation and accounting purposes which have arisen but not reversed by the balance sheet date, except as otherwise required by FRS 19.
35 Remuneration of Directors Details of Directors’ remuneration are set out in Note 7 of the Group’s Financial Statements. 36 Staff Numbers and Costs The average number of persons employed by the Company (including Directors) during the year, analysed by category, was as follows:
Number of Employees 2015
Directors and administrative staff The aggregate payroll costs of these persons were as follows:
2015 £000
Wages and salaries Social security costs Other pension costs
37 Employee Share Schemes
No share options were granted during the year to 27 June 2015 under the ShareSave scheme, (2014: nil). Details of Directors’ share options are set out in Note 7 of the Group’s Financial Statements. 38 Share Based Payments
As set out in Note 27 to the Group Financial Statements, 51,724 (2014: 251,034) of the total 155,172 (2014: 302,758) share options granted during the year were issued to employees of the Company resulting in a charge to the Company profit and loss account of £1,000 (2014: £3,000). The remaining options were granted to employees of the subsidiary companies with corresponding charges to the relevant profit and loss accounts. Credits relating to options exercised, cancelled or lapsed after vesting have also been passed to the subsidiaries during the year. The credit totalled £42,000 (2014: credit £136,000) and has resulted in a reduction (2014: reduction) in the total cost of investments in the Company balance sheet. Details of Directors’ share options are set out in Note 7 of the Group’s Financial Statements.
76
2,790 399 105
3,294
2014 £000
2,669 343 145
3,157 35 2014 35
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92
